REALTheRealReal, Inc.
Retail-Miscellaneous Retail
- Revenue
- $693M
- 15% YoY
- Operating margin
- -3.5%
- 63% YoY
- EBITDA
- $9M
- 139% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -14.0×
- −$127M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired0% of net incomeCash flow under 80% of net income
- Dilutive SBCClear4% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $468M | $603M | $549M | $600M | $693M | 15% |
| Operating income | −$215M | −$189M | −$166M | −$56M | −$24M | 58% |
| Net income | $236.1B | $196.4B | $168.5B | $134.2B | $41.8B | 69% |
| Operating cash flow | −$142M | −$92M | −$61M | $27M | $37M | 38% |
| Capex | $37M | $23M | $29M | $14M | $19M | 31% |
| Stock-based comp | $49M | $46M | $34M | $29M | $29M | 0.5% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $493K · 5
- Net
- −$493K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 81 | 144 |
| FY2024 | — | — | 56 | 133 |
| FY2023 | — | — | 10 | 119 |
| FY2022 | — | — | 6 | 98 |
| FY2021 | — | — | 59 | 143 |